Zambia Needs 8,000 MW of Power to Produce 3MT of Copper

By Ellen Hambuba President Hakainde Hichilema says Zambia’s ambition to produce three million tonnes of copper will require about 8,000 megawatts of electricity. Speaking at the UAE-Zambia Business Forum in Abu Dhabi, President HICHILEMA said this will open up a major investment opportunity for the UAE and other investors. President HICHILEMA says the power requirement is only for copper production and does not include electricity needed for the wider economy President Hichilema said reforms in the energy sector have opened the door to independent power producers, electricity traders and private investment in transmission and distribution infrastructure. President Hichilema has also highlighted long-term power purchase agreements of between 20 and 25 years as an opportunity for investors seeking predictable markets. UAE Undersecretary for Foreign Trade FAHAD SIDDIQ AL GERGAWI said the UAE sees clear opportunities to deepen cooperation with Zambia, particularly in agriculture, energy, healthcare, digital technology and mineral value addition. And ZDA Director General ALBERT HALWAMPA said Zambia issued investment licences for projects worth more than 100 billion U.S. dollars between 2021 and 2026 – exceeding the 70-billion-dollar value recorded over the previous 18 years. Mr. HALWAMPA said the surge reflects growing investor confidence in Zambia, citing political stability, policy reforms and the Public-Private Dialogue Forum as some of the measures creating a more predictable business environment. IDC Chief Executive Officer CORNWELL MULEYA said the Corporation has identified 15 investment opportunities across five sectors, including mining, energy, manufacturing and agribusiness. Mr MULEYA said the opportunities are aligned with the Grow Zambia Agenda and are intended to support economic diversification, job creation and increased value addition.